Computer Tech Turns Down $75 Million in Bitcoin

Author → Mr. Mikey » Date → May 23, 2017

Dear Readers,

The following personal story is 100% true. Today I’m opting out of posting crazy stuff on my blog and decided to write a full post due to something I found out today, in hopes that you may learn from my experience.

Long time ago (2010) in Southern California…

I decided to give the “self-employed” thing a try and I established a mobile computer repair business. Nothing like being my own boss. The income was great as well. My rate at that time was $90 per hour. This was back before the market was flooded with ads from uncertified “geeks” that devalued the market. But this story isn’t about how the market declined after about a year and a half. This is a story about my failure to be open-minded about something new.

It was a sunny weekday morning. I was going through my email and checking my voicemail to see if any of my Craigslist ads brought any new clients in. I typically had 2 to 3 leads per day. First voicemail was from a lady who wanted to know if I was open to giving her lessons on how to use computers. Next! The second message was from some guy who wanted to know if I had the ability to install and IP camera system for his place of business. Knowing that he wanted an alternative to a pro installer, I decided to “next” that one as well as I suspected that he would try to negotiate my rate down as well.

The final message was from a young guy who needed someone to reformat his hard drive. Knowing that it was a chance to make an easy $90 for one hour of work, I called him back and agreed to meet him at his place (his garage to be exact).

Upon laying my eyes on my patient, I realized that it was an old clunker of a PC with minor ram and video card upgrades. Generally, I would recommend further upgrades, but the system itself was still functional and I could tell that this guy was a “starving student” that just needed his computer to work for his college homework and such. I felt confident in a successful outcome.

After reformatting the hard drive and making sure the Windows XP operating system was set up and ready to go, it was time for my favorite part of this job. $$$

I told my client that the service only took 1 hour and that the total cost would be $90 even. The hesitation was palpable and I was getting nervous that he didn’t have any money at all. I finally asked him if he would be paying in cash or credit. He finally set his nervousness aside and went for the ask:

I was very confused as I did not know what the hell he was talking about. I asked for clarification of what that was and he just told me that it was an “online currency that just came out” and it was “same as cash”. I made it clear that I had no interest in Bitcoin and that I would prefer either cash or credit. He then raised the stake and offered $100 in Bitcoin instead of $90 in Bitcoin. I stood my ground and insisted in either cash or credit.

He finally confessed that he only had $60 in cash and was hoping that I would take the $100 in Bitcoin. At that moment, I decided to get what I could take (I was exploding inside with anger, btw). I took the $60 and went on my way, noting on my spreadsheet that I would likely not do business with that guy again.

LESSON OF THE DAY

Seldom will you get an opportunity to be a part of something big. Sometimes, it will only take minimal effort on your part to be a part of something big. However, we don’t see the immediate value proposition. I encourage everyone to do your research on every opportunity that is presented to you before you decline. It may one day pay off and make you $75 million richer.

I should have looked it up on my phone before I declined…

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Computer Tech Turns Down $75 Million in Bitcoin

Author → Mr. Mikey » Date → May 23, 2017

Dear Readers,

The following personal story is 100% true. Today I’m opting out of posting crazy stuff on my blog and decided to write a full post due to something I found out today, in hopes that you may learn from my experience.

Long time ago (2010) in Southern California…

I decided to give the “self-employed” thing a try and I established a mobile computer repair business. Nothing like being my own boss. The income was great as well. My rate at that time was $90 per hour. This was back before the market was flooded with ads from uncertified “geeks” that devalued the market. But this story isn’t about how the market declined after about a year and a half. This is a story about my failure to be open-minded about something new.

It was a sunny weekday morning. I was going through my email and checking my voicemail to see if any of my Craigslist ads brought any new clients in. I typically had 2 to 3 leads per day. First voicemail was from a lady who wanted to know if I was open to giving her lessons on how to use computers. Next! The second message was from some guy who wanted to know if I had the ability to install and IP camera system for his place of business. Knowing that he wanted an alternative to a pro installer, I decided to “next” that one as well as I suspected that he would try to negotiate my rate down as well.

The final message was from a young guy who needed someone to reformat his hard drive. Knowing that it was a chance to make an easy $90 for one hour of work, I called him back and agreed to meet him at his place (his garage to be exact).

Upon laying my eyes on my patient, I realized that it was an old clunker of a PC with minor ram and video card upgrades. Generally, I would recommend further upgrades, but the system itself was still functional and I could tell that this guy was a “starving student” that just needed his computer to work for his college homework and such. I felt confident in a successful outcome.

After reformatting the hard drive and making sure the Windows XP operating system was set up and ready to go, it was time for my favorite part of this job. $$$

I told my client that the service only took 1 hour and that the total cost would be $90 even. The hesitation was palpable and I was getting nervous that he didn’t have any money at all. I finally asked him if he would be paying in cash or credit. He finally set his nervousness aside and went for the ask:

I was very confused as I did not know what the hell he was talking about. I asked for clarification of what that was and he just told me that it was an “online currency that just came out” and it was “same as cash”. I made it clear that I had no interest in Bitcoin and that I would prefer either cash or credit. He then raised the stake and offered $100 in Bitcoin instead of $90 in Bitcoin. I stood my ground and insisted in either cash or credit.

He finally confessed that he only had $60 in cash and was hoping that I would take the $100 in Bitcoin. At that moment, I decided to get what I could take (I was exploding inside with anger, btw). I took the $60 and went on my way, noting on my spreadsheet that I would likely not do business with that guy again.

LESSON OF THE DAY

Seldom will you get an opportunity to be a part of something big. Sometimes, it will only take minimal effort on your part to be a part of something big. However, we don’t see the immediate value proposition. I encourage everyone to do your research on every opportunity that is presented to you before you decline. It may one day pay off and make you $75 million richer.